SBI Gold Fund - Regular Plan - Growth
SBI Mutual Fund is one of the largest asset management firms in the country. The company has a diverse range of product offerings in various categories including equity funds, debt funds, hybrid funds, index funds, etc.
The company has over 30 years of fund management experience and aims to provide maximum returns to its clients. SBI Gold Fund is a fund of fund scheme offered by the company. Similar to other fund of funds schemes, this scheme aims to generate capital appreciation through investments made in other mutual funds.
Investment objective of SBI Gold Fund - Regular Plan - Growth
This fund aims to generate returns that closely mimic the returns provided by SBI ETF Gold (an open-ended exchange traded fund). This fund also ensures easy liquidity to investors during any business day as per the prevailing NAV of the fund.
Key features of SBI Gold Fund - Regular Plan - Growth
Some of the notable features of SBI Gold Fund - Regular Plan - Growth can be listed as follows:
Type of fund | Open-ended fund of fund scheme |
Plans available | This plan is available in different variants such as Regular - Dividend, Regular - Growth, Direct - Dividend, and Direct - Growth. |
Options under each plan | Growth option |
Systematic Investment Plan | Available |
Systematic Transfer Plan | Available |
Systematic Withdrawal Plan | A minimum amount of Rs.500 can be withdrawn every week, month, quarter, or half-year by notifying the registrar. |
Risk | Moderately high |
Investment amount for SBI Gold Fund - Regular Plan - Growth
Minimum application amount | Rs.5,000 and in multiples of Re.1 thereafter |
Minimum additional investment | Rs.1,000 and in multiples of Re.1 thereafter |
Minimum redemption size | Rs.1,000 or 100 units or account balance (whichever one is lower) |
Minimum installment for Systematic Investment Plan (SIP) | Monthly - minimum Rs.1,000 and in multiples of Re.1 thereafter for at least 6 months or minimum Rs.500 and in multiples of Re.1 thereafter for at least 12 months Quarterly - minimum Rs.1,500 and in multiples of Re.1 thereafter for a minimum of one year Weekly - minimum of Rs.1,000 and in multiples of Re.1 thereafter for at least 6 installments Semi-annual - minimum Rs.3,000 and in multiples of Re.1 thereafter (minimum 4 installments) Annual - minimum Rs.5,000 and in multiples of Re.1 thereafter (minimum 4 installments) |
Minimum installment for Systematic Withdrawal Plan (SWP) | Rs.500 (weekly, monthly, quarterly, half-yearly, or annually) by indicating the registrar anytime |
Minimum installment for Systematic Transfer Plan (STP) | Monthly - minimum Rs.1,000 and in multiples of Re.1 thereafter for at least 6 months or minimum Rs.500 and in multiples of Re.1 thereafter for at least 12 months Quarterly - minimum Rs.1,500 and in multiples of Re.1 thereafter for a minimum of one year |
Entry load | Not applicable |
Exit load |
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*Note: If the account balance falls below the minimum redemption amount as a result of repurchase, the fund will reserve the right to compulsorily redeem the fund after providing a 30-day notice to the investor for making additional investments.
Asset allocation for SBI Gold Fund - Regular Plan - Growth
Instrument | Allocations (percentage of total assets) | Risk profile | |
Minimum | Maximum | ||
Units of SBI ETF Gold | 95% | 100% | Medium to high |
Reverse repo and /or CBLO and/or short-term fixed deposits and/or Schemes which invest mainly in various liquid schemes and money market securities | 0% | 5% | Low to medium |
Who can invest in SBI Gold Fund - Regular Plan - Growth
The following list of entities may invest in SBI Magnum Midcap Fund - Direct Plan - Growth by filing an application with the company:
- Adult resident Indians, either singly or jointly (not exceeding three)
- Parents or legal guardians of minors (on behalf of minors)
- Companies or corporate entities
- Societies registered under Societies Registration Act, 1860
- Public sector undertakings
- Partnership companies formed under Partnership Act, 1932
- Religious and charitable trusts
- Private trusts authorized to invest in mutual funds
- Partnership firms
- Hindu undivided families through Kartas
- Non-resident Indians
- Qualified Foreign Investors (QFIs)
- Foreign institutional investors registered with SEBI
- Banks and other financial institutions
- Other mutual funds (fund of fund schemes)
- International multilateral agencies approved by the Government of India
- Scientific and International Research Organisations
- Foreign Portfolio Investors
*Note: The list given above is only indicative. Prospective investors are advised to consult with their financial advisors to check if this scheme is suitable to them.
NAV Disclosure and Benchmark for SBI Gold Fund - Regular Plan - Growth
The company will calculate and disclose the NAV of this fund at the close of every business day. In accordance with the SEBI (Mutual Funds) Regulations of 1996, the NAV of the fund will be published in at least two daily newspapers that are circulated throughout the country. The company will publish the NAV information on its official website (www.sbimf.com). Also, investors can view the NAV information of a particular day on the website of Association of Mutual Funds (www.amfiindia.com) by 10.00 AM on the following day.
In order to maintain transparency, the company will disclose portfolio of the last day of a month in its official website (www.sbimf.com) on or before 10th of the succeeding month in the prescribed format. In line with SEBI's regulations, the scheme portfolio's complete statement will be published in a leading English paper that circulates across the country and in one regional language paper (of a specific region) where a head office of the fund house is located. This statement will be published within one month after the close of each half year. Alternatively, the company may also mail the portfolio statement directly to its unitholders.
This scheme's performance is benchmarked against the domestic price of physical gold.
SBI Gold Fund - Regular Plan - Growth Fund Manager
The fund manager of this scheme is Mr. Raviprakash Sharma, who has a total experience of 18 years. He has been managing this fund since September 2011.
Investment restrictions of SBI Gold Fund - Regular Plan - Growth
In accordance with the regulations put forth by SEBI, the investments made by this fund is subject to the following restrictions:
- Being a fund of fund scheme, this scheme shall not invest in other fund of fund schemes in the market.
- This scheme shall not advance any loan to investors for any purpose.
- This scheme shall not invest in any other assets other than mutual funds, except to meet the liquidity requirements during redemptions and repurchases.
- Investment in debt instruments comprising money market instruments and non-money market instruments shall not exceed 10% of the fund's NAV.
- Investments in unrated debt instruments issued by a single issuer shall not exceed 10% of the fund's NAV. Overall investments in unrated debt instruments shall not exceed 25% of the NAV.
- The investment restrictions applicable to debt instruments shall also apply to investments made in debentures.
- Transfer of investments from this scheme to another shall be done only if: a) the investments are performed at the prevailing market price for quoted securities and b) the securities meet the investment objective of the fund.
- In case of long-term investments, the securities shall be purchased or transferred in the name of the scheme.
- Pending deployment of funds for investments in line with the objectives, this fund may invest in short-term deposits of commercial banks subject to the regulations stipulated by the Board.
- No investments shall be made by the fund in: a) unlisted securities of an associate or group company of the sponsor, b) securities issued through private placement by an associate or group company of the sponsor, and c) listed securities of group companies of the sponsor that are in excess of 25% of the net assets.
Dividend policy of SBI Gold Fund - Regular Plan - Growth
If there are surplus funds available in this scheme, it shall be distributed to unitholders who have invested with the company. The right to declare dividends under this scheme lies with the Trustee. The procedure and manner of dividend payment shall be done in accordance with the regulations put forth by SEBI.
Other facilities under SBI Gold Fund - Regular Plan - Growth
Some of the special products offered under SBI Gold Fund - Regular Plan - Growth can be listed as follows:
- Systematic Investment Plan (SIP): This option allows investors to invest a fixed amount over periodically. By opting for an SIP, investors can average out their cost of investments over a specific period and overcome the short-term fluctuations witnessed in the market.
- Fixed-end Period SIP: The same conditions of SIP apply to this type of investment. Here, investors can choose a specific period (3 years, 5 years, 10 years, or 15 years) for making investments.
- Top-up SIP: The top-up facility allows investors to increase their SIP installment by a certain amount at pre-defined intervals. While enrolling for SIP, investors must opt for this facility in order to avail it.
- Systematic Withdrawal Plan (SWP): Under this option, investors can withdraw a fixed amount from the fund periodically (weekly, monthly, quarterly, half yearly, or annual). While signing up for the fund, investors must specify the time and frequency of SWP commencement. A minimum amount of Rs.500 can be withdrawn from the fund under this option.
- Systematic Transfer Plan (STP): This option is a combination of systematic withdrawal option and systematic investment plan. Here, a certain amount can be withdrawn from the fund periodically and invested in another fund. All the restrictions applicable to SWP and SIP will apply to this option.
- Swing STP: This option allows investors to transfer a certain amount at regular intervals from a source SBI mutual fund to a target SBI mutual fund. This is done mainly to achieve the target market value.
- Switchover facility: The SBI Gold Fund comes in two different options - Growth and Dividend. The switchover facility allows investors to switch between the two options with ease. The switching will be done at the NAV of the fund.
*Note: A list of all the special products available with the company can be found in the fund's scheme document.
Why should you invest in SBI Gold Fund - Regular Plan - Growth
This scheme's total assets under management currently stands at Rs.358.21 crore as on 31st May 2018. If you are looking forward to invest in a mutual fund scheme that closely reflects the price of gold, this is one of the best options in the market. The fund also offers a range of flexible investment options through its SIP, SWP, and STP special products. This exit load under this fund is relatively minimal, and it is applicable only for withdrawals made before one year. It is also worth noting that this fund has witnessed about 5.75% growth in the last one year.
GST rate of 18% applicable for all financial services effective July 1, 2017.
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